Market Overview

U.S. Senator Asks 3 Federal Agencies To Investigate Lumber Liquidators


Lumber Liquidators Holdings Inc (NYSE: LL) shares have tumbled again, as the U.S. Senate is also looking at the company closely.

U.S. Senator Bill Nelson has reportedly urged three federal agencies, the Consumer Product Safety Commission (CPSC), the Centers for Disease Control and Prevention (CDC) and the Federal Trade Commission (FTC) to test the company's flooring.

Related Link: 8 Damning Quotes From The 60 Minutes Exposé On Lumber Liquidators

The senator is the leading Democrat in the Senate Committee on Commerce, Science and Transportation. As such, he sent a letter on Wednesday asking the aforementioned federal agencies to investigate if the laminate flooring sold by Lumber Liquidators (imported from China) poses any health risks to consumers. He also requested for the organizations to investigate if the company had made false marketing claims.

In his letter, Nelson asked "that the CPSC, in collaboration with the Centers for Disease Control's Agency for Toxic Substances and Disease Registry and the EPA, replicate the cooperative, inter-agency initiative that tested defective Chinese drywall."

Shares of Lumber Liquidators recently traded at $36.40, down 10.8 percent.

Posted-In: 60 minutes Bill Nelson CDC Centers for Disease Control and Prevention Consumer Product Safety CommissionNews Legal Intraday Update


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